While back-to-school shopping traditionally focuses on notebooks and school supplies, money expert Hannah Kesler believes it’s also the perfect time to equip kids with essential life skills in money management. Appearing on “Live In The D,” Kesler stressed the importance of introducing financial conversations early in a child’s life.
“There’s a report, a fidelity report reveals that 56% of Americans did not discuss money with their parents as a child, and 82% of them wish they had,” Kesler noted. “I say, if you want your kids to have money, you need to start talking to them about it while they’re young.”
Kesler suggests weaving financial lessons into everyday life, encouraging parents to discuss earnings, spending, and savings openly with their children. Her approach includes the practical method of tying chores to allowances, using a three-cup system to teach kids the value of saving, spending, and giving. “You need to teach them, okay, this is the money that goes to my save bucket, this is the money that goes to my spend bucket, and then this is the money that goes to my giving bucket,” she explained.
Kesler believes these early lessons lay the foundation for a lifetime of financial confidence. “When they start talking, we need to start talking and teaching it about them,” she emphasized, underscoring that it’s never too early to start these important conversations.
To watch the segment, click on the video above.